Nairobi, April 21 -- More than half of private companies that have been reported for money laundering are in the construction sector, according to a government report that sheds fresh light on the prevalence of shady dealings in the cash-intensive sector.

The National Risk Assessment On Money Laundering and Terrorism Financing of Legal Persons and Legal Arrangements - Kenya report the Business Registration Service (BRS) publishes shows 10,733 registered private companies were reported for money laundering in 2022.

More than half (56.5 percent) of the private firms that were reported for money laundering were involved in the construction sector, signalling the rapidly growing sector as a preferred conduit.

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